Clay Northam Wealth Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,615 shares of the iPhone maker's stock after selling 1,228 shares during the period. Apple accounts for approximately 8.6% of Clay Northam Wealth Management LLC's holdings, making the stock its 2nd biggest holding. Clay Northam Wealth Management LLC's holdings in Apple were worth $12,354,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Life Planning Partners Inc acquired a new stake in Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC acquired a new stake in Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new stake in Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the fourth quarter valued at approximately $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
AAPL has been the subject of several research analyst reports. UBS Group upped their price target on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Loop Capital reduced their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Evercore ISI reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Apple in a report on Wednesday. TD Cowen reduced their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $237.60.
View Our Latest Report on Apple
Insider Activity
In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Apple Price Performance
AAPL traded down $2.06 on Friday, hitting $230.73. 31,276,517 shares of the stock were exchanged, compared to its average volume of 57,842,020. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a 50-day moving average of $209.13 and a two-hundred day moving average of $213.37. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.44 and a beta of 1.16.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio is currently 15.78%.
Apple announced that its board has approved a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Apple Company Profile
(
Free Report)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Recommended Stories

Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.